king.

Chapter 370

"The Principality of Moxi can hold on, how is this possible?"

Caesar IV asked in disbelief.

Originally thinking that it would be unlucky for someone to accompany him, he was already mentally prepared to lie flat once the run on broke out.

Unexpectedly, the debt crisis was even more serious, and the allies who were considered to be sure to renege on their debts came to tell him that he could survive the crisis.

If the Principality of Moxi can support it, and the Alpha Kingdom goes to renege on its debts, then it really can't be justified.

"Your Majesty, we have confirmed it again and again. The Principality of Moxi is mobilizing the nobles across the country to raise funds, and also sent people to communicate with the creditors. It is said that good results have been achieved.

At present, many aristocrats have stated that they will not require early payment before the bond reaches the agreed date.

The Earl of Hudson was the first nobleman to take the lead.Not only did he announce that he would not repay the bond in advance, he also successfully persuaded a group of nobles in the expeditionary army to make a promise together.

Affected by these good news, war bonds, which had been plunging all the way, also rebounded slightly.

Especially the bonds of the Principality of Moxi, the circulation in the market has been greatly reduced.It is estimated that everyone is waiting and watching the situation. After all, selling at the current price is a blood loss. "

After hearing what Earl Francis said, Caesar IV didn't know for a while that he should praise Hudson for his overall view; he still scolded him for patronizing himself to gain fame, forgetting that the kingdom was also in deep debt crisis and needed support.

After thinking about it, Caesar IV still didn't say it in the end.He is very clear that the current Principality of Moxi has no huge debts at all. Even if he takes the bonds and asks for early payment, he will not be able to exchange for money.

Bonds that cannot be converted into cash cannot naturally be counted as money.With the credit of the Principality of Moxi in the eyes of the outside world, it is unrealistic to use the bonds issued by them as money to help the Alpha Kingdom tide over the difficulties.

It is doomed that there is no way to cash the payment immediately, so simply behave boldly and sell Moxi Principality as a big favor.

If the confidence of the market is stabilized and the Principality of Moxi survives the turmoil by chance, then the Kingdom of Alpha will also be saved.

There was nothing wrong with Hudson doing this, and the other creditors of the Moxi Principality also did the same, which seemed too reasonable and somewhat illogical, but the facts were in front of him, and he couldn't help but believe it.

"Since this is the case, let's raise money quickly! On the issue of payment, we are consistent with the Moxi people. As long as they can stick to it, we will stick to it.

However, the specific redemption date must be pushed back as much as possible, preferably after the Moxi people.

If there is trouble from the outside world, tell them that we are busy raising money and let them wait with peace of mind. "

Obviously, Caesar IV's concerns did not disappear.It is true that the Moxi people have achieved certain results on the road of repayment, and it is still unknown that they may not be able to survive the crisis.

If the restrictions are released for payment, the kingdom's little cash flow will soon be exhausted.At that time, the crisis we will face will only be greater.

"Your Majesty, we can also copy the measures taken by the Moxi people. It is not difficult to gain the support of the nobles in the country, but the difficulty is that they do not have much money in their pockets.

The nobles in the northern part of the kingdom are basically poor ghosts, who can't afford any money at all; the nobles in the southern part are richer, but at the moment they are busy building defense lines, so they may not be able to provide much support to the kingdom.

Then, the most critical thing is to persuade the creditors not to run.Judging from the case of the Principality of Moxi, it is still possible to succeed.

After all, now that we demand payment, we are forced to default on our debts, all the bonds in their hands have become waste paper, and we can't even get the last gold coin! "

Marquis Delgado's analysis made Caesar IV calm down all of a sudden.Closed the loop logically.

According to this analysis, the creditors of the Principality of Moxi agreed to give up paying in advance, not because they were reasonable, but because they did not want their bonds to become waste paper.

"It doesn't itch when there are too many lice, and no worries when there are too many debts."

If the Alpha Kingdom followed suit and directly explained the powerful relationship to the creditors, most of the creditors would have no choice but to admit it.

"Well, let's try it! If the Moxi people can do this, then there is no reason for our side to fail. The only trouble is the mastermind behind the scenes.

Judging from the current situation, it is clear that someone is trying to disrupt the bond market at any cost, trying to make us default on our debt.

The Mosi people suspect that the Holy See did it. Although there is no real evidence, they do have the motive to do it.

Everyone keep an eye on the Holy See, if they continue to make trouble for us, we will be in big trouble. "

Caesar IV said with a gloomy face.

Now he finally understands why his father hates the Holy See so much, it's because those guys don't do anything.

Other countries don't want the Alpha Kingdom to grow bigger, but they all have their own moral bottom line.At most, they just contributed to the flames behind, and didn't go straight out to stab the knife.

Otherwise, all countries will collect debts together, and the Alpha Kingdom will go bankrupt before the run on breaks out.

……

The crisis is still raging, and under the control of panic, more and more creditors demand early payment.

Without any surprises, Alpha Kingdom's public relations campaign ended in failure.

Domestic nobles expressed their support one after another, but that was only in words. In actual actions, Hudson actually went to buy bonds, and everyone else expressed it symbolically.

Threats of bad style can indeed deal with ordinary creditors, but for the Holy See, which provoked this turmoil, it doesn't care whether the bonds in its hands will become waste paper at all.

The trumpets in vests acted as vanguards, and the creditors, who were a little excited, joined the debt collection operation again.

On the last day of 99991, the run-on wave finally broke out, and the embassies of the Alpha Kingdom and the Principality of Moxi were besieged.

The difference is that the creditors who besieged the Principality of Moxi finally reached an agreement after rounds of negotiations.

The creditors who besieged the Alpha Kingdom were still in a stalemate, but their emotions were inevitably affected.

If someone hadn't been agitating and exaggerating the risk of default, I'm afraid everyone would have to choose to compromise.After all, the annual bond interest is still being paid normally.

On the holy mountain, Pius VII, who received the news, was directly blown away!
"Is this the result of your actions?
We spent huge sums of money to set off a wave of runs, just to make a fuss?
And what happened to the Principality of Moxi?

You keep saying that they will definitely default on the contract, so why did you reach an agreement with the creditors first and get out of the debt crisis?

......"

The almost roaring question made all the senior officials of the Holy See bow their heads.Everyone likes to do work that costs public funds.

This operation was jointly carried out by multiple departments of the Holy See. It is precisely because there are many people involved and many talents who make money from it, there will inevitably be some problems in the implementation.

"Your Majesty, our funds are limited, and all of them are spent on suppressing the Alpha Kingdom, ignoring the Moxi Principality, which has even worse finances.

Unexpectedly, they put their lives to death and survived, and they actually made a game of dead chess come alive.

It is said that at the negotiation site, the Moxi people directly offered two options: either to pay normally according to the agreed date; or they immediately declared a default on the debt.

Without our people making trouble, those creditors didn't want to receive a single gold coin, so they were forced to accept the normal payment.

Affected by this news, the Alpha Kingdom also suddenly became stronger. They agreed to pay the bonds in advance, but asked to deduct the previously settled interest, bond issuance costs, and fund raising fees...

After the messy deduction, they only accept [-]% of the face value as payment, and they have to apply one month in advance, and they can only get the payment after approval.

Many creditors have been shaken, thinking that the Principality of Moxi can survive the debt crisis, and the Alpha Kingdom with a better financial situation must be fine.

Our people have applied, but that alone is not enough.

In order to create panic a few days ago, we have sold a lot of bonds, and the war bonds we currently hold are less than [-].

It is estimated that the situation in other departments is similar. The war bonds in everyone's hands may not be able to make up a face value of 100 million.

If we want to break the Alpha Kingdom's finances, unless we collect more bonds from the market and use them to run, consuming their cash flow.

However, after the Principality of Moxi passed through the debt crisis, the price of the war bonds of the Alpha Kingdom also began to pick up, from [-]% off the lowest price in the market before, all the way up to [-]% off the current face price.

The high-yield bonds issued in the early stage have been equal to the par price, and even overflowed. "

Blake didn't want to stand out, but Pius VII called his name just now, so he couldn't help but refuse.

The previous bond sell-offs were all gradually smashed down from a high level, but they didn't lose much.

Now if you buy it from the market and then go to the Alpha Kingdom to cash it, you will definitely lose money.

It seems that they can't lose a few points, but once they enter the market for large-scale acquisitions, the circulation price will definitely be fired up.

"Idiot! Now that you know how to do it, why are you still doing it? Hurry up and send someone to implement it!

At worst, it would cost another 200 million gold coins, as long as it could bring down Alpha Kingdom's reputation, everything would be worth it.

Now, no matter what method you use, I will buy their war bonds as quickly as possible, and then immediately take them to pay them. "

Pius VII scolded angrily.

Political accounts have never been purely economic interests.Sometimes the style of play that hurts both sides must be persisted.

Losing 100 million gold coins by myself and consuming the cash flow of 1000 million gold coins from the Alpha Kingdom is definitely a strategic success.

There is no way, after winning the Kingdom of Ruthenia, the Holy See will face the strategic choice of going south or going north.

Of course, they can also choose to enter the Central Continent.It's just that the central part of the mainland is too crowded, and now there are not a few countries in the central mainland that don't have a soft persimmon, let alone the place where the Fourth World War was.

Compared with the Kingdom of Franks and the Kingdom of Libya in the southern continent...it is obvious that the countries in the northern continent are easy to bully.

If it was originally aimed at the Kingdom of Alpha because of hatred and contradictions, then it has now risen to a strategic level. Who let Caesar IV's showmanship make the Holy See see the possibility of annexing the Kingdom of Ruthenia?
……

In the Mountain Territory, Hudson has already started preparing for the celebration banquet.

Because there were too many interferences from human factors, the panic in the market did not last long.Especially after the Principality of Moxi was stabilized, the chamber of commerce that cooperated with Hudson also realized the business opportunity and joined in the action of snapping up bonds one after another, driving up the market price even more.

After the Holy See joined the snap-up team, Hudson, who realized that the market was over, immediately ordered to stop the operation.

Of the 200 million gold coins prepared in advance, only 160 million were spent, but this did not affect the success of this speculation in the slightest.

As the first existence to make a move, the mountain collar obviously got the biggest piece of cake.

160 million gold coins to buy a bond with a face value of 250 million, even if it is sold immediately at the current market price, it can still make hundreds of thousands of blood.

What's more, because of the first-mover advantage, 250% of the [-] million bonds are high-yield bonds, and the annual interest rate can reach [-]%.

After the market stabilizes, selling ordinary bonds one after another will almost be able to collect the principal, and the rest will be blood money.

Although the original goal of earning enough money to build docks and shipyards is still a few hundred million dollars away, it doesn't hurt too much.

Having survived this shock, in the short term, Alpha Kingdom has no risk of default, and holding high-yield bonds to enjoy several years of income is also a good choice.

At least from the perspective of capital return rate, the return rate of bonds is much higher than that of land reclamation and farming.This is a good business until there is no better investment target.

……

Hudson is bleeding, but the Treasury is crying.The crisis of the Moxi Principality is over, and the troubles of the Alpha Kingdom are still ongoing.

The 800 million cash raised by the kingdom with great difficulty was quickly cashed out.If it weren't for the one-month buffer period, I'm afraid he would have already laid down.

"What's going on, isn't the market already picking up? Why are there still people running?"

Caesar IV asked with a puzzled look.

While bond prices vary from place to place, they are generally on the rise.From the perspective of the general trend, it is only a matter of time before the normal price is restored.

When the market price is higher than the advance redemption price, it is obviously a kind of behavior that harms others and does not benefit oneself.

Even if the amount you hold is huge, you can sell it slowly.There is no need to bear the loss at all, and the Kingdom's Ministry of Finance is slammed.

"Your Majesty, the people from the Holy See have taken action. This time they didn't even bother to cover up, the purpose is to consume our cash flow.

Originally, the Ministry of Finance wanted to secretly sell a batch of recovered bonds and arbitrage them from the market. However, the outside world watched too closely. In order to stabilize market confidence, we had to destroy the recovered bonds publicly.

If you want to stabilize the situation, you can only seek help from the outside world.The Ministry of Finance has already contacted major chambers of commerce, and they also promised to borrow funds, but their appetite is a bit big.

Now it depends on how much loss the Holy See is willing to bear.If they fight us at all costs, the next run will be even more serious. "

Marquis Delgado's explanation blew up all the high-level officials in the kingdom.The Holy See actually bought bonds from the market and cashed them in, it's a bit embarrassing.

But there is no way, in order to stabilize the confidence of the market, the Alpha Kingdom can only pretend that it is rich even if its pockets are clinking.

"Then spend it with them!
Doesn't the Holy See want to buy bonds from the market, so let them do it.The bonds recovered by the Ministry of Finance continue to be publicly destroyed, and I will find a solution for the funding gap.

I remember that there are more than 300 million war bonds in the hands of the royal family, and they arranged for people to sell them in batches, and the funds obtained were lent to the kingdom.

If it is not enough, then contact the nobles in the country, and then you can trade at arbitrage if you change hands, and see who can consume who!
The contact with the chamber of commerce can't be interrupted, deliberately creating an appearance for the Holy See that we are about to be exhausted, so that they can increase their investment! "

Caesar IV said angrily.

He's not going to want this thing about integrity now.People in the Holy See dare to do the first day of the junior high school, and he dares to do the fifteenth day.

　Thank you ZuttoMayo leader, one step closer to Baimeng, it’s still far away...

Forget it, let’s talk about monthly tickets, readers, bring them here!

　
(End of this chapter)